Crane (NYSE:CR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in Crane (NYSE:CR) by 25.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 631,576 shares of the conglomerate’s stock after selling 214,482 shares during the quarter. Victory Capital Management Inc.’s holdings in Crane were worth $74,614,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC acquired a new stake in Crane during the third quarter worth about $264,000. TD Asset Management Inc acquired a new stake in shares of Crane during the 3rd quarter worth approximately $1,297,000. Portside Wealth Group LLC acquired a new position in Crane during the 3rd quarter valued at approximately $351,000. Resonant Capital Advisors LLC acquired a new position in Crane during the 3rd quarter valued at approximately $340,000. Finally, Legacy Wealth Asset Management LLC bought a new position in Crane during the 3rd quarter worth $282,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Stock Up 1.0 %

CR stock opened at $142.90 on Friday. The firm’s 50-day moving average is $133.28 and its two-hundred day moving average is $118.25. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 38.31, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. Crane has a 52 week low of $67.28 and a 52 week high of $146.29. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $565.30 million for the quarter, compared to analyst estimates of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $1.25 earnings per share. On average, analysts forecast that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be issued a $0.205 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.57%. Crane’s dividend payout ratio (DPR) is 21.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CR. Stifel Nicolaus boosted their price target on shares of Crane from $150.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Bank of America upped their target price on shares of Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. StockNews.com raised Crane from a “hold” rating to a “buy” rating in a report on Saturday, April 27th. Finally, DA Davidson increased their price objective on Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.00.

About Crane

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.